Shutterstock photo(RTTNews.com) - The European markets fluctuated between small gains and losses throughout Tuesday's session and ended the day with mixed results. Investors were confronted by a large number of corporate earnings results, which proved a mixed bag.
The mood among investors was soured by the release of some disappointing economic data Tuesday. Eurozone private sector data dropped more than expected in October. Traders also remain in a cautious mood ahead of Thursday's monetary policy decision from the European Central Bank.
The pan-European Stoxx Europe 600 index weakened by 0.30 percent. The Euro Stoxx 50 index of eurozone bluechip stocks increased 0.05 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, lost 0.35 percent.
In Frankfurt, chemicals giant BASF declined 1.11 percent after its oil & gas division posted a slight decrease in earnings.
Commerzbank rallied 5.95 percent. The Financial Times reported that the German bank has hired advisers to defend itself against potential takeover bids from European rivals including BNP Paribas.
Covestro jumped 8.17 percent. The plastic materials manufacturer has decided to buy back own shares worth a maximum notional amount of 1.5 billion euros or up to 10 percent of the outstanding capital stock.
Technology company Aixtron rallied 2.68 percent after the Committee on Foreign Investment in the United States approved the sale of ALD and CVD memory product line.
In Paris, eyewear group Essilor climbed 3.96 percent after confirming its 2017 outlook.
Carmat surged 6.26 percent. The company announced that the first international implantation of its bioprosthetic artificial heart had been performed at the National Research Center for Cardiac Surgery in Astana, Kazakhstan.
In London, Whitbread dropped 5.15 percent after the company reported slowing sales growth at its Costa coffee stores.
Admiral Group fell 0.78 percent after JP Morgan downgraded its rating on the stock.
Logitech International tumbled 5.30 percent in Zurich despite delivering another strong quarter of growth.
Novartis lost 2.99 percent after delaying a possible spinoff of its Alcon eyecare business until the first half of 2019.
Apple supplier AMS jumped 21.80 percent after its Q4 guidance came in well above consensus.
Mining and smelting company Boliden sank 6.56 percent in Stockholm after Lennart Evrell has decided to resign from the position as CEO effective half way through 2018.
The euro area government debt to gross domestic product decreased slightly in the second quarter, Eurostat reported Tuesday. The government debt to GDP ratio fell slightly to 89.1 percent in the second quarter from 89.2 percent in the first quarter.
The euro area economy expanded strongly at the start of the fourth quarter on another marked improvement in new orders, but the pace of growth slowed from September.
The flash composite Purchasing Managers' Index fell more-than-expected to 55.9 in October from 56.7 a month ago, flash survey data from IHS Markit showed Tuesday. The score was forecast to drop marginally to 56.5.
Germany's private sector grew at a slower pace in October, flash survey results from IHS Markit showed Tuesday. The flash composite output index fell to 56.9 in October from September's 77-month high of 57.7. Nonetheless, this was one of the highest readings seen since 2011.
France's private sector activity expanded at the fastest pace in nearly six-and-a-half years in October, survey figures from IHS Markit showed Tuesday. The composite output index climbed to 57.5 in October from 57.1 in September.
French manufacturing confidence held steady at its highest level since late 2007, survey results from the statistical office Insee showed Tuesday. The manufacturing confidence index came in at 111.0 in October, the same reading as in September, which was revised up from 110.0.
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